Brief: Max Automation Resolves To Sell Subsidiaries

MAX Automation SE

25/09/2018 15:27

Sept 25 (Reuters) - MAX Automation SE  MXHNn.DE :
    * DGAP-ADHOC: MAX AUTOMATION SE RESOLVES TO SELL SUBSIDIARIES
    * NO LONGER PURSUE CONSTRUCTION OF SPECIAL PURPOSE MACHINES/ASSEMBLY LINES FOR CUSTOMERS IN
AUTOMOTIVE SECTOR
    * SALE OF IWM AUTOMATION GROUP, ELWEMA AUTOMOTIVE GMBH
    * SALE OF 51 % INVESTMENT IN MAX AUTOMATION (SHANGHAI) CO., LTD
    * AIM IS TO COMPLETE SALE PROCESS IN COURSE OF COMING YEAR
    * UNITS TO BE DIVESTED SHOWN AS DISCONTINUED OPERATIONS IN MAX AUTOMATION GROUP AS OF Q3 OF
2018
    * GROUP EAT IN 2018  SIGNIFICANTLY BURDENED BY OPERATING AND EXTRAORDINARY LOSSES OF IWM
GROUP
    * OPERATING AND EXTRAORDINARY LOSSES OF IWM GROUP OF APPROXIMATELY EUR 20 MILLION
    * ALSO BURDENED BY ONE-OFF EXPENSES TO IMPROVE ITS PROFITABILITY
    * ANTICIPATES SALES BETWEEN EUR 270 TO 280 MILLION FOR GROUP'S CONTINUING OPERATIONS FOR
WHOLE
YEAR 2018
    * SAEES FY GROUP EBIT AND PPA DEPRECIATION BETWEEN EUR 16 AND 18 MILLION

Source text for Eikon:  ID:nEQ1xqBNqa 
Further company coverage:  MXHNn.DE 

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